Money flow for the hourly chart has cycle back to the top. Looking at both the hourly and daily chart for the Dow I might would wait for the hourly money flow to cycle back to the bottom before I would put money to work in the form of a long position. There has been heavy buying on weakness the last few sessions in the form of Index ETF's (long positions) ... it is commercial money going long. Remember nothing is guaranteed. The only question would be how long and how high will the next move up last?
Money flow has cycled to the bottom ... remember we could make a double bottom here in terms of the money flow ... a number of things could occur before heading back up. Also, to note of Friday the high yield debt ETF's open sharply lower but ended the day in positive territory. I would look at this as some strength. On Friday we did have money outflow on the broader market and a 68% down volume day on the NYSE.
Money flow for the hourly chart has cycle back to the top. Looking at both the hourly and daily chart for the Dow I might would wait for the hourly money flow to cycle back to the bottom before I would put money to work in the form of a long position. There has been heavy buying on weakness the last few sessions in the form of Index ETF's (long positions) ... it is commercial money going long. Remember nothing is guaranteed. The only question would be how long and how high will the next move up last?
Money flow has cycled to the bottom ... remember we could make a double bottom here in terms of the money flow ... a number of things could occur before heading back up. Also, to note of Friday the high yield debt ETF's open sharply lower but ended the day in positive territory. I would look at this as some strength. On Friday we did have money outflow on the broader market and a 68% down volume day on the NYSE.
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